Tag: Nigeria

Vimto soft drinks now in 35 African countries – Nichols

BUSINESS
British soft drinks maker Nichols plc announced it has launched its Vimto soft drinks in Benin Republic, Ivory Coast, Equatorial Guinea, Mauritania and Uganda, expanding its presence in Africa to 35 countries. The company which had $43.6m in overseas sales in its latest results said it has made two new appointments to support its international business as year-on-year growth hit 20.3%. Nichols said it has been particularly buoyed by sales in Africa which grew 21.2% in 2016. The Vimto brand which was first exported to Africa in the 1920s and ’30s has grown popular in some African markets and is now been bottled locally under licenses in 29 countries including Nigeria, South Africa, Cameroun, Egypt, Mali and Senegal. In 2016, Vimto was launched in Angola, Chad, DRC, Gabon, and Sudan. The com

Nestle partners FG to launch “Nestle for Healthier Kids” global Initiative

BUSINESS
Nestle Nigeria plc, with assistance from the Federal Government has launch its “Nestle for Healthier kids” in Nigeria, a global initiative the food and beverage company unveiled on May 15, 2018 to fight acute malnutrition in children. The programme was unveiled in Abuja to commemorate the International Day of Families, which includes further development of healthier products and advice for families on nutrition and exercise and aims at helping 50 million children worldwide to lead healthier lives by 2030. The scheme is getting support from the Federal Ministry of Education and the Federal Ministry of Health and will be rolled out to schools in Ogun State, and some schools in the Federal Capital Territory (FCT). The programme will cover 17,000 children and 50 teachers in its pilot stage. Sp

FrieslandCampina WAMCO, NSN advocate dairy nutrition, daily exercise to mark World Milk Day 2018

BUSINESS
FrieslandCampina WAMCO, in partnership with the Nutrition Society of Nigeria (NSN), is spearheading an awareness campaign for dairy nutrition in celebration of this year’s World Milk Day on June 1, themed- ‘Raise a Glass.’ In a statement made to the press yesterday in Lagos, the Managing Director, Mr. Ben Langat said, “The acknowledgement of the importance of milk in the global food system by WHO and FAO connects with FrieslandCampina WAMCO’s conviction that dairy plays an important role in supplying essential nutrients for daily wellbeing for all stages of life.” He further emphasized that the company’s mission statement of ‘nourishing Nigerians with quality dairy nutrition’ finds expression in how FrieslandCampina WAMCO is helping to combat non-communicable diseases that are linked to in

Nestle Nigeria confident about the future

BUSINESS
Food and beverage giant Nestle Nigeria plc, has said that it is optimistic the ongoing economic reforms and diversification agenda of the Federal government will lead to better performance and returns to shareholders in future years. This was the view of the company’s chairman, David Ifezulike, while addressing Nestle’s shareholders at its Annual General Meeting (AGM) held on Tuesday in Lagos. He said that the current economic trend eases production constraints in manufacturing and agriculture and key government reforms continue to diversify the economy, an all-around improvement in the economy is expected. “In view of the foregoing and confident in the capacity of our people and the value of our brands, we look towards 2018 with optimism,” Ifezulike said. He assured shareholders of better

Guinness Nigeria wins multiple awards at International Spirits contest

BUSINESS
Guinness Nigeria Plc has won several medals at this year’s San Francisco World Spirits Competition (SFWSC). The competition was the biggest in its history, with over 2,200 entries. Guinness Nigeria slugged it out with over 2,200 international brands to clinch the award. An SFWSC medal has become a recognized affirmation of high quality and one of the most reliable and universal indications of spirits excellence. Guinness Nigeria’s Gordon’s Moringa Citrus blend, an innovation that is less than two years old, won a gold medal in the Gin category. According to the SFWSC screening panel, a gold medal is awarded to products deemed “exceptional spirits near the pinnacle of achievement that set the standard for their categories.” Smirnoff X1 vodka also performed admirably, winning a silver medal

When is Golden Guinea Breweries resuming production?

BUSINESS
Umuahia-based Golden Guinea whose doors have been shut for nearly 16 years is yet to resume production as was expected in 2016. The troubles of the once pride of the Eastern States goes back to 2003 when fire broke out at the facility destroying equipment including boilers. But even before then, there had been allegations of mismanagement, fraud and insolvency by the management. Successive state governments made efforts to resuscitate the once pride of Umuahia. The previous administration of Governor T.A. Orji set up a committee to look into how to bring back the brewery to life. Work to revamp the facility started in his administration. The Government of Abia State under current Governor Okezie Ikpeazu has set as part of its economic policies to resuscitate moribund industries in the stat...

AFBTE, NUFBTE call on FG to rescind new excise duty rate increase on alcohol, tobacco set for June

BUSINESS
Stakeholders in the food, beverage and tobacco sub-sector have called on the Federal Government to suspend its proposed increase on excise duty rates on alcoholic beverages and tobacco products which is set to go into effect on June 4, 2018. The group said that it was with deep regret that the government was making plans to raise the excise duty rates at a time industry producers were experiencing declining volumes and contracting margins, noting that the effect of absorbing the cost of the new excise duty regime would be over-whelming on industry players. They note that the new development would reverse some of the earlier gains made which saw a GDP growth rate of 8.62% in the sub-sector in 2017 over 2016 and representing a growth rate of 2.35% The Minister of Finance, Kemi Adeosun had in...

AFBTE, NUFBTE call on FG to rescind new excise duty rate on alcohol, tobacco set for June

BUSINESS
Stakeholders in the food, beverage and tobacco sub-sector have called on the Federal Government to suspend its proposed increase on excise duty rates on alcoholic beverages and tobacco products which is set to go into effect on June 4, 2018. The group said that it was with deep regret that the government was making plans to raise the excise duty rates at a time industry producers were experiencing declining volumes and contracting margins, noting that the effect of absorbing the cost of the new excise duty regime would be over-whelming on industry players. They note that the new development would reverse some of the earlier gains made which saw a GDP growth rate of 8.62% in the sub-sector in 2017 over 2016 and representing a growth rate of 2.35% The Minister of Finance, Kemi Adeosun had in...

Coca-Cola to increase investment in Zimbabwe by $65 million

BUSINESS
The Coca-Cola Company (TCCC) has pledged to increase its investment in Zimbabwe by US$65 million over the next three years as the Southern African country seeks to attract foreign investment following years of Western sanctions and the recent change in leadership. The Managing Director, Coca-Cola East and Central Africa, Mr Ahmed Rady met with President Mnangagwa and Vice President Constatino Chiwenga separately on Thursday to discuss its plans and future investments in the country. Mr Rady was accompanied by the heads of Coca-Cola subsidiaries in Zimbabwe – Delta Corporation Chairman Mr Canaan Dube, Schweppes Chairman Mr Sternford Moyo and the company’s Managing Director, Mr Charles Msipa as well as the Chairman of Mutare Bottling Company, John Gould. Speaking to the media following the c

FrieslandCampina WAMCO records 13.2% revenue growth in 2017 despite economic challenges

BUSINESS
FrieslandCampina WAMCO Nigeria Plc, announced on Thursday its 2017 financial results at the company’s Annual General Meeting (AGM) held at the Muson Centre, Onikan, Lagos.  The firm said that full year sales grew 13.2% to ₦140bn, from ₦123.75bn in 2016. The leading dairy maker in Nigeria known for such brands as Peak milk and Three Crowns milk, among others said that it showed resilience and determination to meet its targets and thrive amidst a difficult operating environment. The firm noted that net profit declined by 13.5% to ₦12bn from ₦13.8bn in 2016, blamed on a fire incident at their Evaporated milk factory in 2017 which reduced production and required the company to import high volume of Evaporated milk to cushion the gap from the resulting fire incident. In spite of continued forei